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AsianOil: China surpasses Japan in LNG imports in January-February

China imported more LNG than Asia’s other top market for the fuel, Japan, in the first two months of 2024, in a reversal from the situation in the same period last year, state data published this week showed.

Chinese LNG imports came to 13.2mn tonnes in January-February, marking a 19.3% increase year on year. The country also saw imports via pipeline surge by 30.7% to 8.9mn tonnes. Japan, on the other hand, imported 12.1mn tonnes in the two-month period, down 8% y/y.

China imported 71.32mn tonnes of LNG in 2023, versus 63.44mn tonnes in 2022, when gas consumption slumped as a result of very high spot prices and COVID-19 lockdowns. Japan’s imports came to 66.2mn tonnes, down 8% y/y.

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